Why You Need an Inclusive Succession Plan

Why You Need an Inclusive Succession Plan

To ensure senior positions are filled with qualified candidates representing diverse racial backgrounds, age groups, and genders, inclusive succession planning has become a priority for many organizations.

In addition to preparing for unexpected departures of senior staff, a succession plan aids you in recruiting exceptional employees, encourages the development of their knowledge and skills, and prepares them for advancement or promotion into different, more challenging roles in your company.

Recruiting

Diversifying the talent pool has become a top priority for companies in order to bring unique skill sets and new viewpoints to the table as well as increase the client outreach potential. But, a diverse workforce also aids with recruiting new talent as well. If background, age, or gender are under-represented in executive roles, employees and potential candidates are often concerned about career longevity and growth potential and less likely to accept a job offer or stick around long term, if they do

Talent Development and Advancement

Taking an active role with your employee in planning their future can reap big rewards. Employees that feel appreciated are more efficient, dedicated, and engaged in their job and their role at the company.  

Creating a solid career plan is key to help him or her gain the experience and education required for the career progression they desire. Developing talent so they’re ready to take on leadership roles can include special project assignments, team leadership roles, and internal and external training and development opportunities.

Planning Ahead

A reliable succession plan has advantages for both employers and employees but unfortunately, many companies are reactive, rather than proactive. When searching for future leaders, they often wait until they need someone immediately before they begin to consider who can fill the position.

Effective, proactive succession planning leaves your organization well-prepared for all contingencies. It isn’t just an insurance policy you implement to avoid a disaster. It’s an active move to secure your company’s growth potential and future, and ensure that your company remains true to your commitment to diversity and inclusion. 

Succession planning will also save you time and money on recruiting and training outsiders. You can also groom motivated and versatile employees to grow with the company, become experts, and learn the ins and outs of other departments and roles.

As an employer, you rely on your staff to carry out your plans and vision to accomplish goals. Losing a key employee can hinder your ability to accomplish important objectives. However, having employees ready for advancement allows you to make necessary changes or move forward without being hampered by a lack of replacements.

CoachDiversity Institute works with forward-thinking corporations, foundations, nonprofit organizations, and government entities who are ready to enrich their organization and work toward a future of success. Contact us today to learn more.